Private INFONAVIT Co-Finance Agreement Mexico

A Private INFONAVIT Co-Finance Agreement Mexico is a supplementary loan contract (contrato de crédito complementario) between a worker (trabajador), their employer (patrón) or a private lender (acreedor privado), and the Instituto del Fondo Nacional de la Vivienda para los Trabajadores (INFONAVIT), allowing the worker to finance the acquisition of a home (casa habitación) using a combination of the INFONAVIT housing credit (crédito INFONAVIT) and additional private financing, governed by Article 43 bis of the Ley del INFONAVIT published in the Diario Oficial de la Federación on 21 April 1972 with subsequent amendments.

The Instituto del Fondo Nacional de la Vivienda para los Trabajadores (INFONAVIT) is a tripartite institution established by the Ley del INFONAVIT, with representation from employers (patrones), workers (trabajadores), and the government (gobierno federal). INFONAVIT's mandate is to manage the housing fund contributions (aportaciones patronales al fondo de vivienda) made by employers on behalf of their workers — equal to 5% of the worker's daily integrated salary (salario diario integrado) under Article 136 of the Ley Federal del Trabajo and Article 29 of the Ley del INFONAVIT — and to extend housing credits (créditos hipotecarios) to eligible workers for the acquisition, construction, or improvement of their principal residence.

Article 43 bis of the Ley del INFONAVIT was introduced to enable cofinavit schemes — co-financing arrangements in which the worker's INFONAVIT credit is supplemented by a private loan from an authorised financial institution (institución financiera autorizada), the employer directly (crédito patronal), or through the INFONAVIT's own COFINAVIT program. The combined financing allows workers to access properties of higher value than the INFONAVIT credit alone would permit, with the total acquisition cost split between the INFONAVIT credit (secured by the worker's housing sub-account — subcuenta de vivienda — and repaid through INFONAVIT payroll deductions — descuentos vía nómina) and the private co-financing (repaid through separate loan installments or additional payroll deductions if the employer is the co-lender).

The Registro Público de la Propiedad (RPP) in the relevant state records the first mortgage (primera hipoteca) securing the INFONAVIT credit and the second mortgage (segunda hipoteca) or additional lien securing the private co-financing. Coordination between the two liens is governed by the co-financing agreement and the notarial deed (escritura pública) executed before a Notario Público authorised in the state where the property is located.

For employers who provide co-financing directly to their workers under Article 43 bis, the employer loan is documented through a contrato de crédito privado — distinct from the INFONAVIT credit but coordinated with INFONAVIT's disbursement timeline. The employer's credit is not channelled through INFONAVIT's housing fund but is funded directly from the employer's resources, with repayment arranged either through additional payroll deductions (descuentos por nómina adicionales) or through separate direct payments by the worker. The Comisión Nacional Bancaria y de Valores (CNBV) supervises private co-financing provided by regulated financial institutions.

For income tax purposes under LISR, interest paid by the worker on the INFONAVIT credit portion is not deductible as a personal deduction — only real interest on the private mortgage portion (the co-financing loan secured by the casa habitación) qualifies as a personal deduction under LISR Article 151, provided the total principal of all mortgage loans does not exceed 750,000 UDIs.

A Private INFONAVIT Co-Finance Agreement Mexico is required whenever a worker eligible for INFONAVIT housing credit wishes to acquire a property whose purchase price exceeds the maximum INFONAVIT credit amount available based on their Número de Veces Salario Mínimo (VSM) score and housing sub-account balance.

The agreement is needed when the worker has a confirmed INFONAVIT credit pre-approval (pre-autorización de crédito) and has identified a property whose total acquisition price exceeds their INFONAVIT credit limit — the private co-financing fills the gap between the INFONAVIT credit and the purchase price, enabling the acquisition to proceed.

The contract is required when an employer (patrón) offers housing co-financing as an employee benefit (prestación laboral) separate from the INFONAVIT housing fund — the employer provides a direct loan to the employee for the supplementary financing of a home purchase, documented in this contrato de crédito privado to comply with Article 43 bis of the Ley del INFONAVIT and to establish the repayment structure.

The agreement is necessary for COFINAVIT and APOYO INFONAVIT scheme transactions — formal INFONAVIT programs under Article 43 bis that allow regulated financial institutions (banks, SOFOM ER) to extend co-financing loans that are coordinated with INFONAVIT through an authorised participation agreement. The private lender requires the worker to sign a separate co-financing loan agreement (contrato de cofinanciamiento) as a condition of the joint disbursement.

Real estate developers (desarrolladores inmobiliarios) who offer mixed-financing packages — combining INFONAVIT credits with seller financing or developer-arranged bank co-financing — require this agreement to document the supplementary credit tranche and to coordinate the property lien registration (constitución de hipoteca) with the Notario Público and the Registro Público de la Propiedad.

The document is also needed for loan restructuring when a worker who previously had an INFONAVIT-only credit now requires additional financing for major home improvements (ampliación o remodelación) or when refinancing under INFONAVIT's Mejoravit or Unamos Créditos programs, which may combine INFONAVIT improvement credits with private co-financing.

A complete Private INFONAVIT Co-Finance Agreement Mexico under Article 43 bis of the Ley del INFONAVIT and applicable financial regulations must contain the following key components:

Worker and Lender Identification: Full names (nombres completos), RFC (Registro Federal de Contribuyentes), CURP (Clave Única de Registro de Población), NSS (Número de Seguridad Social — IMSS), and domicile of the worker (trabajador / acreditado). Full legal name, RFC, and address of the private lender (acreedor privado) — whether the employer (patrón) or a financial institution. The worker's INFONAVIT credit number (número de crédito INFONAVIT) and confirmation of the INFONAVIT credit pre-approval.

Property Description: Full legal description (descripción legal) of the property being acquired — address, surface area (superficie), colindancias, and the folio real (registration number) in the Registro Público de la Propiedad of the relevant state. Confirmation that the property is to serve as the worker's principal residence (casa habitación destino), consistent with Article 42 of the Ley del INFONAVIT which limits INFONAVIT credits to principal residence acquisition.

INFONAVIT Credit Amount and Terms: The amount of the INFONAVIT credit (monto del crédito INFONAVIT) in VSM (Veces Salario Mínimo) or pesos, the agreed interest rate under INFONAVIT's credit conditions (typically 12% annual for loans in VSM), and the repayment mechanism — mandatory INFONAVIT payroll deductions (descuentos INFONAVIT vía nómina) collected by the employer and remitted to INFONAVIT bimonthly.

Private Co-Financing Amount and Terms: The principal amount of the private loan (monto del crédito privado) in Mexican pesos (MXN), the agreed ordinary interest rate (tasa de interés ordinaria), the moratory interest rate (tasa moratoria) compliant with SCJN usura jurisprudencia, the loan term (plazo), payment frequency, and installment amounts with reference to the annexed tabla de amortización.

Lien Coordination (Coordinación de Garantías): The agreement must specify the priority of liens — INFONAVIT typically holds the first mortgage (primera hipoteca) on the property, while the private co-lender holds the second mortgage (segunda hipoteca) or a subordinated lien. The deed of both mortgages is executed simultaneously before a Notario Público at closing, registered at the Registro Público de la Propiedad. The lien coordination clause governs the rights of each creditor in the event of default by the worker.

Payroll Deduction Authorization: An express authorization (autorización de descuento por nómina) by the worker for the employer to deduct the private loan installments from the worker's net salary — distinct from the mandatory INFONAVIT deductions. Under the Ley Federal del Trabajo Article 110, payroll deductions for housing purposes are permitted, but total deductions (INFONAVIT + private) must not reduce the worker's net salary below the minimum wage.

Acceleration and Default: Conditions under which the private lender may accelerate the full outstanding balance (vencimiento anticipado) — typically default of two or more installments, insolvency, abandonment of the property, or subletting without authorization. The acceleration clause must be explicit, as courts have held automatic acceleration without contractual provision requires formal demand.

Insurance Requirements: The property must be insured against fire, earthquake, and other covered risks (seguro de daños sobre el inmueble) as required by Article 44 of the Ley del INFONAVIT for the INFONAVIT credit portion. The private co-financing agreement typically requires the same or equivalent insurance coverage for the private lien. Life insurance (seguro de vida) covering the outstanding loan balance upon the worker's death is also typically required.

Forms-legal.com provides this Private INFONAVIT Co-Finance Agreement Mexico template as a reference document. Actual INFONAVIT co-financing transactions must be executed through a Notario Público authorised in the state where the property is located, with prior coordination with the INFONAVIT regional office (Subdelegación INFONAVIT) to confirm the credit availability, the designated notary (notario designado), and the disbursement schedule. Workers should verify current INFONAVIT credit conditions, maximum loan amounts, and co-financing product availability through INFONAVIT's official portal at infonavit.org.mx.